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December 13th, 2017 at 12:53 pm
Phil – "Yes, it is what they do but they are entrusted to do it with restraint and, failing to do so, they risk devaluing the currency. It is necessary to grow the money supply to reflect the growing economy or Dollars would now be worth at least $15.88 (an ounce of silver). "
Debauch is what they exist for, this is how they confiscate your income and wealth, or rob you blind while you sleep. At the beginning of a cycle, the CB's engage in a race to the bottom. To give a non dollar example: In 1959, the French Franc was worth 2.5% of its 1934 value (97.5% debauch over 25 years). In 1960, the NEW French Franc was introduced and the old Franc was revalued at 100 old francs per new franc (100% debauch, in one day). The old one and two franc pieces were allowed to circulate as centimes or PENNIES. When the euro replaced the NEW franc on 1 January 1999, the NEW franc had become worth less than an eighth of its original 1960 value (87.5% debauch, over 40 years). Just as a 1910 US Dollar is now worth $25; or a 2015 US Dollar is worth 4 centimes of a 1910 dollar (96% debauch, over 105 years). Think about the scope of debauchery involved over the scale of years (generations) and frogs in the pot come to mind. Repeat after me, there is no inflation, now sleep little froggy and Out.